Mundoro Reports Progress on Exploration Programs and Financial Results
Mundoro’s Skorusa East assays confirm outer porphyry margins while the company maintains cash holdings at $5.9 million.
Mundoro Capital Inc. reported a net loss of $325,340, or $0.00 EPS, for the second quarter of 2026, an improvement from the $540,377 loss recorded in Q2 2025. The company’s cash balance stands at $5.88M with working capital of $1.23M. Fees earned increased to $251,009, while recoveries from option partners reached $2.49M, effectively offsetting $2.51M in exploration expenditures. Corporate expenses decreased 24% to $281,162.
Drilling at Skorusa East, specifically holes 26-SKO-08 and 26-SKO-09, returned low-grade copper zones and polymetallic veining, with no economic-grade intervals identified. The potassic core remains untested. At Tilva Rosh, hole 26-OBL-05 shows elevated copper in the upper 75m, reflecting supergene enrichment.
The Bulgaria EE1 project faces permitting delays due to an NGO appeal, with a court hearing scheduled for Q3 2026. Meanwhile, the Arizona projects, including Dos Cabezas, Picacho, and Copperopolis, are advancing toward strategic option agreements.
Mundoro Capital Inc. (MUN) reported drill results that align precisely with prior geological models, confirming the outer and western margins of a porphyry system. The company noted there is no material upside or downside surprise. Financial performance remains in line with expectations, as partner recoveries sustain operations and limit cash burn. The BHP earn-in structure and project valuation remain unchanged. This news represents incremental, expected progress rather than a market-moving catalyst.
Mundoro Capital Inc. operates as a copper royalty generator and project generator, focusing on the Western Tethyan and Laramide porphyry belts. Its flagship project is the Central Timok joint venture in Serbia, in partnership with BHP Group Ltd. Under the agreement, BHP can earn 100% ownership by funding $35 million in exploration over 10 years, while Mundoro retains a 2% NSR royalty and receives operator fees.
The company’s additional portfolio includes the Borsko, Trstenik, and South Timok projects in Serbia; Iskar EE1 in Bulgaria; and the Dos Cabezas, Picacho, and Copperopolis projects in Arizona. All projects are in the exploration stage with no known resources or reserves.